However, $800 still seems like quite a bit of money for such a small space, and technically speaking, it is.
Mark Mendez, the director of rentals at Prudential Douglas Elliman, explains that the average rental price per square foot in a studio is $72.
When you break down what Tyler is paying per square foot in his apartment, you find that his rent costs nearly twice as much at $123.07 per square foot.
He spent so much time commuting into the city that he felt like he wasn’t getting to really enjoy being there.
Tyler said:
“I was spending my life in a skyscraper and going underground, to work, and then back again. I was missing out on anything New York had to offer. If I had to choose spending time on a train or living in a small space, I’d choose a small space.”